ICVT vs VOO
iShares Convertible Bond ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. ICVT delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | ICVT | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.03% | |
| AUM | $7.2B | $979.0B | |
| Dividend Yield | 1.31% | 1.09% | |
| Holdings | 375 | 509 | |
| YTD Return | +15.11% | +13.79% | |
| 1Y Return | +25.81% | +23.01% | |
| 3Y Return (annualized) | +16.77% | +21.78% | |
| 5Y Return (annualized) | +5.86% | +13.39% | |
| Volatility (annualized) | 14.7% | 14.1% | |
| Max Drawdown | -33.3% | -34.3% | |
| Fund Family | iShares by BlackRock (US) | Vanguard (US) | |
| Category | Convertible | Equity | |
| Inception | Jun 2, 2015 | Sep 7, 2010 |
ICVT vs VOO Performance
iShares Convertible Bond ETF (ICVT) is a ETF from iShares by BlackRock (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year ICVT returned +25.81% while VOO returned +23.01%. Year to date, ICVT is up 15.11% versus a gain of 13.79% for VOO.
Over three years, ICVT compounded at +16.77% per year against +21.78% for VOO; over five years the annualized figures are +5.86% and +13.39% respectively. Across the full 11-year window we track, VOO has the edge at +13.57% annualized vs +11.10%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ICVT has been the more volatile fund, with annualized monthly volatility of 14.7% compared with 14.1% for VOO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -33.3% for ICVT and -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ICVT charges 0.20% per year while VOO charges 0.03%. On a $10,000 position that is $20 vs $3 annually, a gap of $17 per year that compounds over a long holding period. On income, ICVT currently yields 1.31% against 1.09% for VOO.
Holdings Overlap
ICVT and VOO share 0 holdings out of 612 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, ICVT or VOO?
ICVT has an expense ratio of 0.20% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $17 per year of difference.
Which performed better, ICVT or VOO?
Over the past year ICVT returned +25.81% vs +23.01% for VOO, so ICVT leads on 1-year performance. Over the longest common window we track (11 years), ICVT annualized +11.10% vs +13.57% for VOO. Past performance does not guarantee future results.
Which is riskier, ICVT or VOO?
ICVT has been the more volatile fund at 14.7% annualized versus 14.1% for VOO. Worst drawdown: ICVT -33.3% vs VOO -34.3%.
Should I hold both ICVT and VOO?
ICVT and VOO have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ICVT and VOO?
ICVT and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 612 unique securities.
Which pays a higher dividend, ICVT or VOO?
ICVT yields 1.31% while VOO yields 1.09%, so ICVT currently pays the higher dividend yield.
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